BRIC Bank Chief K V Kamant Supported Demonetisation Drive In India

The star Walt of global banking system, the chief of BRIC bank came out strongly in support of demonetisation drive initiated by Government of India (GoI). Most of the Indian Opposition party as well as many analyst questioned the benefit of demonetisation drive must read Mr. K. V. Kamanth statement which came out in the front page of Economic Times.

We categorically predicted that around 2.5 lakh out of around 15 lakh discontinued currency will be out of the system. His statement clearly indicate that around 17% banned currencies were kept as black money.It will help government for the recapitalization of Banks which in turn will trigger exponential growth of economy. It's also a known fact that economy as of now is in contraction and post completion of Demonetisation Drive, demand from the consumer to enterprise segment will be unprecedented.

As Indian Opposition parties stalled the parliament by giving one or another reason around demonetisation as they are fully aware that the GoI initiative is good and they will loose the credit of the same. In my point of view, now they should accept the fact and bring parliament to normalcy.

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Devendra Prasad

20 years plus industry veteran of domestic and international ICT domain with the expertise in Business, Technology, Strategy and Analysis. Specializes in forecasting impact analysis, trends and recommendations for Investments, Technology and Regulations.